State auditors have directed four government-owned and -controlled corporations (GOCCs) to return their unutilized Disbursement Acceleration Program (DAP) funds amounting to P2.405 billion.
In its 2013 Annual Financial Report on GOCCs released late Monday, the Commission on Audit (COA) ordered the National Electrification Administration (NEA) to return P1.58 billion; the Philippine Institute for Development Studies (PIDS), P560 million; the National Dairy Authority (NDA), P167.440 million; and the Philippine Fisheries Development Authority (PFDA), P98 million.
COA said these GOCCs were not able to use their DAP allocations because of slow release of funds to their project proponents, thus defeating “the DAP objective of accelerating government spending.”
According to the audit agency, the four GOCCs should “return the unutilized DAP funds to the Bureau of the Treasury pursuant to the pronouncement of the Supreme Court that the DAP is unconstitutional.”
It also reported that a total of P1.382 billion released by NDA, NEA and PIDS remained unliquidated as of December 31, 2013.
Auditors required “prompt submission of liquidation reports” regarding P998.189 million released by NEA, P296.809 million by PIDS and P87.002 million by NDA.